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Financial Constraints and Other Obstacles: Are they a Threat to Innovation Activity?

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Author Info

  • Mohnen, Pierre

    ()
    (UNU-MERIT and University of Maastricht)

  • Palm, Franz

    ()
    (University of Maastricht)

  • Schim van der Loeff, Sybrand

    ()
    (University of Maastricht)

  • Tiwari, Amaresh

    ()
    (University of Maastricht)

Abstract

In this paper we examine the importance of financial and other obstacles to innovation in the Netherlands using statistical information from the CIS 3.5 innovation survey. We report results on the effect of these obstacles on the firms' decision to abandon, prematurely stop, seriously slow down, or not to start an innovative project. These results are compared with those from other studies in the Netherlands and other countries. We end with a discussion of policy measures that have been taken to overcome, or at least attenuate these obstacles, such as R&D tax incentives, venture capital financing and policy mix pakages.

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Bibliographic Info

Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 006.

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Date of creation: 2008
Date of revision:
Handle: RePEc:unm:unumer:2008006

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Keywords: Financial Constraints; Innovation; Innovation Policy;

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References

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Citations

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Cited by:
  1. Brancati, Emanuele, 2013. "Innovation, financial constraints and relationship lending: evidence from Italy during the recent crises," MPRA Paper 50329, University Library of Munich, Germany.
  2. Sandra M. Leitner & Robert Stehrer, 2013. "R&D and Non-R&D Innovators in the Financial Crisis: the Role of Binding Credit Constraints," wiiw Working Papers 95, The Vienna Institute for International Economic Studies, wiiw.
  3. Pietro Alessandrini & Andrea Filippo Presbitero & Alberto Zazzaro, 2008. "Geographical Organization of Banking Systems and Innovation Diffusion," Mo.Fi.R. Working Papers 3, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
  4. Rahmouni, Mohieddine, 2011. "Perception des obstacles aux activités d'innovation dans les entreprises tunisiennes
    [Perception of obstacles to innovation activities in Tunisian firms]
    ," MPRA Paper 18306, University Library of Munich, Germany.
  5. D'Este,Pablo & Rentocchini,Francesco & Vega Jurado,Jaider M., 2012. "The role of human capital in lowering barriers to engage in innovation: evidence from the Spanish innovation survey," INGENIO (CSIC-UPV) Working Paper Series 201206, INGENIO (CSIC-UPV), revised 03 Aug 2012.
  6. Hölzl, Werner & Janger, Jürgen, 2014. "Distance to the frontier and the perception of innovation barriers across European countries," Research Policy, Elsevier, vol. 43(4), pages 707-725.
  7. Pier Francesco Asso & Vito Pipitone, 2013. "Ostacoli e determinanti dell’innovazione: un’analisi sulle imprese siciliane di successo," Rivista di Politica Economica, SIPI Spa, issue 3, pages 157-193, July-Sept.
  8. repec:idb:brikps:54258 is not listed on IDEAS
  9. Filipe Silva & Carlos Carreira, 2009. "No Deep Pockets: Some stylized results on firms' financial constraints," GEMF Working Papers 2009-06, GEMF - Faculdade de Economia, Universidade de Coimbra.
  10. Werner Hölzl & Jürgen Janger, 2012. "Innovation Barriers across Firms and Countries," WIFO Working Papers 426, WIFO.
  11. Polder, Michael & Veldhuizen, Erik & Bergen, Dirk van den & Pijll, Eugène van der, 2009. "Micro and macro indicators of competition: comparison and relation with productivity change," MPRA Paper 18898, University Library of Munich, Germany.
  12. Heike Belitz & Anna Lejpras, 2014. "Financing Patterns of Innovative SMEs and the Perception of Innovation Barriers in Germany," Discussion Papers of DIW Berlin 1353, DIW Berlin, German Institute for Economic Research.
  13. Filipe Silva & Carlos Carreira, 2012. "Do financial constraints threat the innovation process? Evidence from Portuguese firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 21(8), pages 701-736, November.
  14. Evens Salies, 2009. "A test of the Schumpeterian hypothesis in a panel Of European electric utilities," Documents de Travail de l'OFCE 2009-19, Observatoire Francais des Conjonctures Economiques (OFCE).
  15. Maria Teresa Costa-Campi & Néstor Duch-Brown & José García-Quevedo, 2013. "R&D drivers and obstacles to innovation in the energy industry," Working Papers 2013/23, Institut d'Economia de Barcelona (IEB).
  16. Segarra Blasco, Agustí, 1958- & Teruel, Mercedes, 2010. "Are small firms more sensitive to financial variables?," Working Papers 2072/151623, Universitat Rovira i Virgili, Department of Economics.
  17. D’Este, Pablo & Iammarino, Simona & Savona, Maria & von Tunzelmann, Nick, 2012. "What hampers innovation? Revealed barriers versus deterring barriers," Research Policy, Elsevier, vol. 41(2), pages 482-488.

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